Corporate Guarantee facility provided to overseas AE is international transaction

DCIT Vs JSW Steel Ltd. (ITAT Mumbai)

ITAT Mumbai held that Corporate Guarantee facility provided to overseas AE by the assessee is an international transaction and hence addition towards Arm’s Length Guarantee Fee confirmed.

Facts- The assessee is public limited company deriving income from manufacturing and selling of steel pellets, hot and cold rolled coils/ sheets, galvanized coils / sheets and plates, blooms, billets, bars, roads and slag cement.

Please become a Premium member. If you are already a Premium member, login here to access the full content.